Foxconn to set up battery energy storage system unit in India

Sriperumbudur, August 18

Taiwanese electronics manufacturing giant Foxconn is working on plans to set up a battery energy storage system unit in India, its chairman Young Liu said here.

With an eye on electric vehicle segment, Foxconn has been expanding its battery manufacturing business, with the first plant already set up in Taiwan. Liu said its information and communication technology segment had just started in India. “We are also waiting to put our 3+3 future industry in India. I have been talking to a minister here about how can we collaborate on battery energy storage system in Tamil Nadu,” Liu said. As part of the “3+3 strategy”, Foxconn has prioritised three key industries — electric vehicles, digital health, and robotics — each has a growth potential with current scale at $1.4 trillion and over 20 per cent compound annual growth rate. — PTI